Updates, advisories and surprises

(8:50 PM ET) HONG KONG (MarketWatch) -- Hong Kong shares on Thursday retreated from near two-year highs after data showing the U.S. economy contracted in the fourth quarter and after the Federal Reserve said growth had paused in recent months, with property and energy stocks among those hit. The Hang Seng Index(HK:HSI)lost 0.5% to 23,696.26 and the Hang Seng China Enterprises Index fell 0.8% to 12,070.45. Cnooc Ltd.(HK:883)
CEO, -2.59%
fell 2.6% after issuing a below-forecast production estimate for 2013, while Kunlun Energy Co.(HK:135)
KLYCY, +3.37%
tumbled 3%. Among developers, Sino Land Co.
SNLAY, -3.30%
(HK:83)lost 2.2% and New World Development Co.(HK:17)
NDVLY, +1.30%
shed 2.1%. Shares of Chinalco Mining Corp.(HK:3668)skidded as trading began in the stock, with shares sliding to 1.62 Hong Kong dollars (20.8 U.S. cents) versus its initial public offering at HK$1.75. Shares of China Unicom Hong Kong Ltd.
CHU, +1.29%
(HK:762)rose 2% after its upbeat profit forecast, while Lenovo Group Ltd.(HK:992)
LNVGY, -3.14%
climbed 0.8% after posting a strong earnings growth. China's Shanghai Composite(CN:SHCOMP)edged up 0.3% to 2,388.47.

ConocoPhillips net falls on Phillips 66 spin-off

(7:50 PM ET) SAN FRANCISCO (MarketWatch) -- ConocoPhillips
COP, -3.32%
reported late Wednesday its fourth-quarter profit fell to $1.4 billion, or $1.16 a share, from $3.4 billion, or $2.56 a share, a year ago. The sharply lower results reflect the April 30, 2012, spin-off of the company's refining and marketing operations to create Phillips 66. Adjusted to exclude one-time items, fourth-quarter earnings were $1.8 billion, or $1.43 a share. Analysts surveyed by FactSet, who cite adjusted earnings, had expected the Houston-based oil and gas producer to report a profit of $1.42 a share. ConocoPhillips shares rose 0.4% to $61.30 in after-hours trade ahead of the report.

Murphy Oil swings to profit

(5:18 PM ET) SAN FRANCISCO (MarketWatch) -- Murphy Oil Corp.
MUR, -6.23%
citing lower impairment costs and overseas tax benefits, reported late Wednesday a fourth-quarter profit of $158.7 million, or 82 cents a share, reversing a year-ago loss of $113.9 million, or 59 cents a share. Revenue for the quarter rose to $7.4 billion from $6.8 billion. Analysts polled by FactSet had expected the El Dorado, Ark.-based oil and gas producer to report earnings of $1.35 a share on $6.77 billion in revenue. Murphy shares were down 2.1% at $61.50 in after-hours trade.

Facebook mobile users exceed desktop users

(4:57 PM ET) SAN FRANCISCO (MarketWatch) - Facebook Inc. said its mobile daily active users exceeded its desktop daily active users for the first time in the fourth quarter of 2012, highlighting its momentum in that arena. Facebook said it had a total of 1.1 billion monthly active users, up 25% year-over-year. The company also said its mobile revenue made up 23% of its total ad revenue, up from 14% in the last quarter. Facebook reported better-than-expected fourth-quarter financials, but analysts say it did not exceed much loftier expectations. The stock was down 1% after hours.

Facebook 'not a blowout,' but still solid, analyst

(4:37 PM ET) SAN FRANCISCO (MarketWatch) -- Facebook Inc. shares were down 1% in after-hours trading Wednesday despite posting results that beat Wall Street expectations. Topeka Capital analyst Victor Anthony said the report was "not a blowout that some were expecting, but a good solid beat versus expectations." Mobile revenue made up 23% of Facebook's total ad revenue, up from 14% last quarter. Some analysts were expecting a higher share for mobile revenues. Topeka's Anthony projected 24%, while Aaron Kessler at Raymond James said he was looking for mobile revenue to be up to 26%.

Fusion-io slumps after hours; outlook disappoints

(4:28 PM ET) SAN FRANCISCO (MarketWatch) -- Fusion-io Inc.
FIO, +0.00%
shares plunged by more than 22% in after-hours trading Wednesday after the memory-technology company forecast fiscal third-quarter sales far below Wall Street analysts' forecasts. Fusion said it expects to report revenue of $80 million, while analysts surveyed by FactSet forecast sales of $137.1 million. The forecast outweighed any upbeat sentiment over Fusion's second-quarter report in which the company earned $1.7 million, or 2 cents a share, on revenue of $120.6 million. During the year-ago quarter, Fusion lost $5.7 million, or 7 cents a share, on $118.1 million in sales. Excluding one-time items, the company would have earned 13 cents a share. Analysts surveyed by FactSet had forecast Fusion-io to earn 8 cents a share on $119.9 million in revenue.

Qualcomm gains as results, forecast beat estimates

(4:24 PM ET) SAN FRANCISCO (MarketWatch) -- Qualcomm Inc.
QCOM, -0.03%
saw its shares jump more than 5% on Wednesday afternoon in after-hours trades after the wireless chipmaker posted better-than-expected results for its first fiscal quarter and issued a forecast that was also above analysts' expectations. Revenues jumped 29% to $6.02 billion, while net income grew 32% to $2.2 billion and diluted earnings per share came in at $1.26. Analysts were looking for earnings of $1.13 per share on revenue of $5.9 billion, according to consensus forecasts from FactSet. The company projected a revenue range of $5.8 billion to $6.3 billion, with an EPS range of $1.10-$1.18 for the March quarter. Analysts had been expecting earnings of $1.10 per share on revenue of $5.9 billion for the quarter.

Citrix Systems' earnings rise more than 4%

(4:15 PM ET) SAN FRANCISCO (MarketWatch) -- Citrix Systems Inc.
CTXS, -0.20%
on Wednesday reported a fourth-quarter profit of $114 million, or 60 cents a share, on revenue of $740 million. During the same period a year ago, the business-software company earned $109 million, or 58 cents a share, on $619 million in sales. Excluding one-time items, Citrix would have earned $169 million, or 90 cents a share. Analysts surveyed by FactSet had forecast Citrix to earn 84 cents a share on $705.8 million in revenue. For its first quarter, Citrix expects to earn between 62 cents and 63 cents a share on revenue of $670 million to $680 million. Citrix's shares rose almost 9% in after-hours trading following the release of its results.

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